Aon returns to profit and ups savings target

LODNON (MarketWatch) -- Chicago insurance broker Aon
AON, +0.59%
said it swung to a fourth-quarter profit of $198 million, or 69 cents a share, as revenue rose 9% to $2.1 billion. Aon lost $6 million in the prior-year quarter. Excluding items, Aon said it would have earned 96 cents a share, a 20% rise that was above FactSet-compiled analyst estimates of 81 cents a share. It increased estimated annualized savings for the 2007 restructuring program by $69 million to $536 million, and costs necessary to achieve savings by $50 million to $750 million.

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